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Curvature Restrictions on Flexible Functional Forms: An Application of the Minflex Laurent Almost Ideal Demand System to the Pattern of Spanish Demand, 1954-1987

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  • Ramajo Hernandez, Julian

Abstract

This article introduces a new demand model labeled Minflex Laurent almost ideal demand system, which has been achieved by combining the flexible functional Minflex Laurent form with the price-independent generalized logarithm expenditures structure introduced by Muellbauer. The model has been applied to analyze the aggregate demand behavior of final consumer goods in the Spanish economy from 1954 to 1987. When the flexible functional form has been empirically tested, the curvature requirements imposed by economic theory have been studied.

Suggested Citation

  • Ramajo Hernandez, Julian, 1994. "Curvature Restrictions on Flexible Functional Forms: An Application of the Minflex Laurent Almost Ideal Demand System to the Pattern of Spanish Demand, 1954-1987," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(4), pages 431-436, October.
  • Handle: RePEc:bes:jnlbes:v:12:y:1994:i:4:p:431-36
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    Cited by:

    1. William Barnett & Meenakshi Pasupathy, 2003. "Regularity of the Generalized Quadratic Production Model: A Counterexample," Econometric Reviews, Taylor & Francis Journals, vol. 22(2), pages 135-154.
    2. Cranfield, J. A. L. & Pellow, Scott, 2004. "The role of global vs. local negativity in functional form selection: an application to Canadian consumer demands," Economic Modelling, Elsevier, vol. 21(2), pages 345-360, March.
    3. Toshinobu Matsuda, 2006. "A trigonometric flexible consumer demand system," Canadian Journal of Economics, Canadian Economics Association, vol. 39(1), pages 145-162, February.

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